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Why is Dogecoin trading lower this Tuesday?

Why is Dogecoin trading lower this Tuesday?

2 min read

Dogecoin (CRYPTO: DOGE) was trading 10% lower at $ 0.284 after a 24-hour tracking period on Tuesday.

Observed movements

The Shiba Inu-themed coin was up 2.8% over a seven-day tracking period.

Versus Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), DOGE fell 8.23% and 4.15%, respectively.

Since the beginning of the year, DOGE has risen 4.864%, having reached an all-time high of $ 0.74 in early May.

Why is it moving?

At press time, all major currencies were trading in the red and DOGE was no exception as the global cryptocurrency market capitalization stood at $ 2.26 trillion, indicating a drop of 4.3 trillion. % in 24 hours.

Read also: El Salvador, the first country in the world to buy Bitcoin

DOGE has attracted relatively low interest on Twitter this Tuesday morning, as it lagged behind several cryptocurrencies in terms of the number of mentions, according to Cointrendz data.

Solarium (CRYPTO: SOL) attracted the most interest with 8,880 tweets, while DOGE appeared in 2,033 tweets in the latest review.

Three popular technical analysts, Justin bennett, Scott melker, also know as The Wolf of All Streets, and the analyst under the pseudonym of Altcoin Sherpa, made bullish remarks on DOGE over the weekend.

Altcoin Sherpa stressed that it is not about “if” DOGE will hit $ 1, but about “when.” For his part, Melker noted that DOGE “looks ready to levitate again” at the $ 0.35 level.

In the meantime, Wifedoge (CRYPTO: WIFEDOGE), a token Calling herself DOGE’s wife, saw her market cap rise to $ 2.32 million last week, with gains of more than 3,000% in market cap in just one day.

Wifedoge has reserved 5% of its coins for the CEO of Tesla Inc (NASDAQ: TSLA), Elon musk, which according to the project will be delivered “at the right time.”

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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